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Central bank spends $20.91 billion in six months to defend naira

Within a space of six months this year, the Central Bank of Nigeria (CBN) has so far expended about $20.91 billion to stabilise the naira at the various segments of the foreign exchange (forex) market.

Federal government moves to pay oil marketers

The Federal Government has commenced the process of paying oil marketers the arrears it owes the marketers.

DMO begins payment of arrears to oil marketers through promissory notes

The Debt Management Office (DMO), says it has commenced the accelerated implementation of settlement of government arrears through promissory notes to oil marketers.
china yuan dollar

China’s trade surplus with US hits $28 billion

China’s trade surplus with the United States swelled to a record in June as its overall exports grew at a solid pace, a result that could further inflame a bitter trade dispute with Washington.
ATM

Banks review ATM cash withdrawal overseas

Guaranty Trust Bank (GTBank) and First City Monument Bank (FCMB), it said, at the weekend raised their monthly card spending limit on overseas PoS and online transactions from $1,000 to $3,000 and around $2,000 to $5,000.

Foreign airlines: Lagos airport most expensive in the world

Foreign airlines operating in Nigeria saturday described the Murtala Muhammed International Airport (MMIA), Lagos as the most expensive airport in the world, attributing it to high and multiple charges the government agencies in the aviation industry have been billing them.

Turnover in fixed income, currency markets hits N14.3 trillion in May

Transaction turnover in the Fixed Income and Currency (FIC) markets for the month of May amounted to N14.30trillion, a 4.30 percent (N0.64trn) decrease from the value recorded in April and a 50.60 percent (N4.80trn) increase Year on Year.

ABCON chief warns of looming election-induced capital flight

Ahead of the 2019 general elections, the President of the Association of Bureaux De Change Operators of Nigeria (ABCON), Alhaji Aminu Gwadabe, has warned of a possible capital flight.

NEXIM bank challenges Edo exporters on N50 billion fund

The Nigerian Export Import Bank (NEXIM) has urged Exporters in Edo state to make effort and access the N50 billion Export Development Fund (EDF) to boost the non-oil revenue in the state. Managing Director of NEXIM, Abba Bello, disclosed this in a statement signed by Tayo Omidiji, Head, Strategy and Communications, in Abuja, on Wednesday.

NAQS re-enforces packaging standards for imports and exports.

The Nigeria Agricultural Quarantine Service says it is re-enforcing the use of Solid Wood Packaging Materials such as crates, boxes, dunnages for containerised cargoes imported into the country.

Afreximbank urges enterprises to engage factoring to solve cash flow difficulties

The African Export-Import Bank (Afreximbank) has urged African enterprises to make use of factoring to take advantage of the opportunities for expanding the continent’s regional value chains.

Take time to study records of President Buhari’s achievement before criticising – Presidency tells...

The Presidency has appealed to former Speaker of the House of Representatives, Ghali Na’Abba, to take a second look at Muhammadu Buhari administration’s achievements since its inception on May 29, 2015.

Tokyo opens lower after US stocks see first drop of 2018

Tokyo stocks opened lower on Thursday after Wall Street fell for the first time in 2018 the previous day, while a strong yen weighed on sentiment.

President Buhari warns Customs, officials not to frustrate inland dry port activities

President Muhammadu Buhari, on Thursday, warned Customs and Port officials from frustrating business activities at Inland dry ports in major parts of the country.

Presidency outlines 17 achievements in 2017

Mr. Femi Adesina, President’s Special Adviser on Media and Publicity, has unveiled 17 achievements of the administration in 2017.

Nigeria loses N1trn annually to cargo diversion – SALS

The Shippers’ Association Lagos State (SALS) on Tuesday said the country lost N1 trillion annually through cargo diversion to ports in neighbouring countries due to bad roads to Lagos ports.

Power generation to hit 10,000MW in 2020 – Buhari

President Muhammadu Buhari is optimistic that power generation will increase to 10,000 megawatts by 2020.

Nigeria’s cashew output soars by 43%, market value 83%

National Cashew Association of Nigeria, NCAN, has said that Nigerian cashew has grown in volume and appreciated in value in the last six years, ranking as one of the highest priced commodities at the international market.

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Strike: Presidency, lawmakers insist Muhammadu Buhari will present 2019 budget on Wednesday

The Presidency and federal lawmakers have insisted that the presentation of the 2019 budget presentation by President Muhammadu Buhari as scheduled will still hold on Wednesday despite the ongoing strike of the Parliamentary Staff Association of Nigeria.
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Oby Ezekwesili: Good governance possible in Nigeria

Prof. Obiageli Ezekwesili, the Presidential Candidate on the platform of Allied Congress Party of Nigeria (ACPN), on Tuesday said that good governance was possible in Nigeria if youths would be the agents of change.
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2019: Ebonyi teachers vow to “sail or sink’’ with David Umahi

Teachers in Ebonyi have pledged to “sail or sink’’ with Gov. David Umahi in reciprocation of his support to their programmes and activities.

Imo guber: Action Alliance’s Tunde Anifowose-Kelani challenges Uche Nwosu in court, seeks to stop...

The National Chairman of the Action Alliance (AA) Dr. Tunde Anifowose-Kelani, has challenged the governorship candidature of the party in Imo State and son in-law of Imo State governor, Uche Nwosu, over his nomination as the governorship candidate of the party in the forthcoming election in the state.